Cindy Whitehead, the ex-CEO of Sprout Pharmaceuticals, which developed "the female Viagra," announced Wednesday she is launching a new venture with a focus on solving problems for women.

Called "The Pink Ceiling," the company will offer seed investing or consulting to start-ups that want to improve women's lives.

The Pink Ceiling's first partnership is with Undercover Colors, a North Carolina-based start-up developing wearable nail technology to detect date rape drugs in drinks.

"Whether these advances break down social barriers or bust through ceilings to create new categories, our goal is to fuel the solutions that put the power of choice in women's hands," Whitehead, The Pink Ceiling founder and CEO said in a release.

Whitehead co-founded and served as CEO of Sprout Pharmaceuticals. Last year, Sprout Pharmaceuticals made headlines when it created the first ever FDA-approved drug for low sexual desire in women, Addyi, dubbed the "female Viagra."

"My driving passion is identifying real solutions that can become catalysts for meaningful change for women," Whitehead said.

Interested entrepreneurs can pitch to Pink Ceiling on its website.

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